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Global Copper Reserves 2023

Updated: Sep 18


As of 2023, world copper reserves are estimated to be around 1 billion metric tons. The largest copper reserves are found in countries like Chile, Peru, and Australia, which collectively account for a significant portion of the global reserves. These reserves are crucial as copper is essential for various industries, including electronics, construction, and renewable energy, particularly in the transition to green technologies.


Chile holds the largest copper reserves globally, estimated at 190 million metric tons, or 19% of the world’s total. These reserves are concentrated in the Atacama Desert and Andes Mountains, with key deposits including:


  • Escondida: The world’s largest copper mine.

  • Chuquicamata: A massive open-pit mine.

  • Los Pelambres: A major copper-molybdenum deposit.


Copper is vital to Chile’s economy, with the country producing about 30% of the world’s copper, supported by vast reserves and established mining infrastructure.


Peru follows with 120 million metric tons of copper reserves (12% of the global total), anchored by major mines such as Antamina, Las Bambas, Toromocho, and Cerro Verde. Copper mining is a cornerstone of Peru’s economy, benefiting from a mining-friendly climate and significant foreign investment.


Australia holds about 100 million metric tons of copper reserves, with key mines like Olympic Dam, Mount Isa, and Ernest Henry. These reserves are critical for both domestic use and exports.


The Democratic Republic of Congo (DRC) has over 80 million metric tons of copper reserves, mainly located in the Katanga Copper Belt. Key mines include Tenke Fungurume, Kamoa-Kakula, and Mutanda, operated by global mining giants like Glencore and Ivanhoe Mines.


Country

Reserves (metric tons)

Share of global reserves

Chile

190,000,000

19.00%

Peru

120,000,000

12.00%

Australia

100,000,000

10.00%

Congo

80,000,000

8.00%

Russia

80,000,000

8.00%

Mexico

53,000,000

5.30%

United States

50,000,000

5.00%

China

41,000,000

4.10%

Poland

34,000,000

3.40%

Indonesia

24,000,000

2.40%

Zambia

21,000,000

2.10%

Kazakhstan

20,000,000

2.00%

Canada

7,600,000

0.76%

Other countries

180,000,000

18.00%

World total (rounded)

1,000,000,000


 

Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2024


The information presented here may contain inaccuracies and is subject to rounding. We do not guarantee that all information is complete or correct. We accept no responsibility for any errors, omissions, or outcomes resulting from the use of this information. This is not investment advice.


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